GREY:OLEPF - Post by User
Comment by
tony1969on Apr 16, 2013 5:55pm
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Post# 21260727
RE: RE: How cheap is the OJVG?
RE: RE: How cheap is the OJVG? I gotta agree with you hoosier but the uncertainty of the future POG makes anything possible. I picked up some TGZ today at .83. That stock is down about 66% since its peak in Jan. They have a market cap of $200 million and have a $500 million mill with lots of projects including OLE around them that will not be able to build a mill for years if ever. They have a book value of $1.50. Now that is VERY cheap. They made $50 million or .20 per share in q4 2012 high grading 70k ounces of gold. They sold that gold at an average of $1296 so they can make a profit even if gold goes down further. They will eliminate their hedge this quarter which will dramatically improve their cash flow as they do not have to sell anymore gold at $800 per ounce. The juniors are acting like this sell off is not over but we should be very close if it is not.